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Progress of Renewable Energy Use in EU Countries – Statistical Analysis of Trends and Factors

Author

Listed:
  • Sonia Chipeva

    (University of National and World Economy, Sofia, Bulgaria)

  • Ventsislava Stoyanova

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The use of renewable energy sources is an important aspect of economic development throughout the world, including Europe, as it provides clean energy and contributes significantly to environmental transformation. Three clusters of EU countries are identified concerning their progress of the share of renewable energy (SRE) use in gross energy consumption for 2004-2022 applying cluster analysis based on the SRE trends in the period. Effects of important factors for expanding SRE are analyzed by developing a set of econometric models of renewable energy use in main sectors of energy balance – electricity, transport and cooling & heating.

Suggested Citation

  • Sonia Chipeva & Ventsislava Stoyanova, 2024. "Progress of Renewable Energy Use in EU Countries – Statistical Analysis of Trends and Factors," Godishnik na UNSS, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 63-80, October.
    • Handle: RePEc:nwe:godish:y:2024:i:1:p:63-80
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    File URL: https://unwe-yearbook.org/en/journalissues/article/11602
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    More about this item

    Keywords

    cluster analysis; trends; sustainability; share of renewable energy (SRE); econometric models; EU members;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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